Several weeks after his £350-an-hour non-executive position in Crucial Academy was exposed, which was formerly part of the Surge group of companies which promoted London Capital & Finance, high-flying Johnny Mercer MP has finally broken his silence.
Today the BBC has explicitly connected Mercer's salary to LCF. Previously, while it was a matter of public record that Crucial Academy was part of the Surge group of companies, no one had been brave enough to trace a direct financial link between Mercer and LCF.
Prime ISA Bond Co 1 Limited, the issuer of the Prime ISA bonds, has been issued with a strike-off notice by Companies House.
The strike-off notice was issued due to Prime's failure to provide updated details of who owns and controls the company.
Previously we have reviewed Carlauren Group's care home investments offering 10% per year and Carlauren's C-Coin cryptocurrency investment, which Carlauren claims will jump in value by 170% as soon as they have sold £35 million worth (current sales as at April 2019: £3,290).
Carlauren hasn't been particularly happy with my coverage, previously sending its former Head of Marketing into the comments to make vague accusations about "significant inaccuracies" without actually pointing any out.
Their unhappiness has now escalated into perjury.
Mederco, headed by Stewart Day, operated a number of unregulated property investment schemes.
In one, Mederco built out 160 flats in Appleton Point, Bradford, and sold the flats to a wider number of investors, with a guaranteed yield of 9% for five years, and an agreement to buy back the flats at an uplifted price.
The freehold of Appleton Point was sold in May 2015 to E & J Ground Rents No 1 LLP for £850,000, who subsequently leased the basement car park back to Mederco for 999 years at a peppercorn rent. Mederco then sold the car parking spaces to another batch of investors for £9,995 each, again for a guaranteed yield of 9% for five years with an uplifted buy-back after that.
In another, Mederco leased 258 car parking spaces from Bury Football Club for 24 years, and then sold sub-leases in the parking spaces to investors for £9,995. Mederco committed to paying the investors 9% per year for 5 years.
Both these investments collapsed when HMRC issued a winding-up petition, claiming £605,000 in unpaid VAT on the car parking spaces. Day then appointed administrators.
The court case brought by Business Secretary Greg Clark against unregulated storage pod investment scheme Store First kicked off in Manchester's Business and Property Court on Monday.
Representing the Secretary of State, Paul Chaisty QC alleged that Store First raised £206 million from investors on the basis of "misleading information and testimonials”. The Government believes that Store First and related companies should be wound up to protect investors.
Store First insists that the scheme is viable and that winding the business up would cause investors to lose their money.
A winding-up petition launched by the Insolvency Service against unregulated store pod investment scheme Store First begins in the Manchester arm of the High Court today.
According to the Telegraph, the court session is due to last three weeks.
At the end, the court will decide whether Store First should be allowed to continue operating or whether it should be wound up and any assets distributed to its creditors.
Crucial Academy Limited, previously owned by Paul Careless, the director of London Capital & Finance's marketing agent Surge Financial, is to be sold to its chief executive, former Royal Marine Neil Williams.
The deal is expected to conclude this weekend. The consideration was not disclosed.